£800 Loan - Borrow 800 Pounds Today

If you’re looking for an £800 loan, Cashflex could help you search for a suitable match, based on your financial situation.

Search for an £800 loan with Cashflex

Cashflex is a credit broker, working with a large panel of responsible lenders. Cashflex, and all the lenders we work with, are authorised and regulated by the Financial Conduct Authority (FCA).

• Our service is free to use.
• Any credit score considered.
• Our online form should take no longer than 5 minutes to complete.
• Quotes are no-obligation.
• If approved for a loan with one of our lenders, your money could be sent the same day.*

*The time it takes for the money to become available in your account will depend on your bank’s policies and procedures.

Can I apply for an £800 loan?

Before you apply for an £800 loan, you’ll need to make sure that you meet the lender’s eligibility criteria. Requirements will vary between lenders, but you can usually apply for a loan if you:

• Are over the age of 18;
• Are a UK resident;
• Have a UK bank account and valid debit card; and
• Have a regular source of income paid into your bank account.

You’re welcome to search for an £800 loan with Cashflex if you meet the above requirements.

What if I have bad credit? Could I still get an £800 loan?

If your credit score is looking a little worse for wear, you might find it difficult to get approved for a loan, although it’s not impossible. Several of the lenders on the Cashflex panel specialise in loans for people with bad credit.
Bad credit loans could come with higher interest rates, which will increase the overall cost of borrowing. You might also find that you’re unable to borrow the amount of money that you need and may need to apply for a lower amount.

You should think very carefully about applying for a loan with bad credit. Making a late repayment or missing one altogether will cause further decline to your credit score.

£800 loans for people with no credit history

Having no credit history usually occurs when someone has never paid bills or borrowed credit before. It’s also referred to as having a ‘thin’ credit file.
A thin credit file could restrict your chances of approval should you choose to apply for a loan; with no evidence of how you’ve managed credit in the past, lenders may consider your application as a risk.

Certain lenders, including some of those on the Cashflex panel, could be willing to consider applications from people with no credit history.
As is the case with bad credit loans, loans for people with no credit history could also come with higher interest rates.

How long does it take to repay an £800 loan?

With Cashflex, you can search for an £800 loan with a repayment term of either 3, 6, or 12 months.

When choosing a repayment term, it’s important to weigh up your options and consider what works best for your personal circumstances. For example, if you know that you’re going to be able to afford to repay your loan fairly quickly, you may wish to consider a shorter term. A shorter term will mean that you’ll pay less interest, which will lower the overall cost of borrowing.
On the other hand, you might find that it suits your finances better to spread the cost of the loan out across a longer term, even if it does mean that you’ll pay more in interest.

The most important thing to consider when deciding on a repayment term is your current financial situation. Repaying a loan should never leave you struggling to cover the cost of your essential outgoings, such as rent and food.

How much interest will I pay on an £800 loan?

This will depend on the rate of interest you’re offered. Your interest rate is decided by the lender and is based on a number of things, such as your credit score, the amount of money you apply to borrow, and how long you choose to borrow it for.

£800 loans with no credit check

The Financial Conduct Authority (FCA) requires all responsible lenders in the UK to carry out an affordability check on people who apply to borrow credit. This is just as much to protect you, as it is the lender. The lender needs to gain an understanding of your financial habits and how you’ve managed credit commitments in the past. This will give them an idea of your ‘creditworthiness’, which is how likely you are to be able to repay the money you borrow.

Lenders have a duty of care to ensure that credit is affordable for the borrower. If it’s not, the borrower is at risk of defaulting on their repayments, being charged additional fees, seeing a decline in their credit score, and being put at risk of financial stress.

An affordability check may be carried out in the form of a hard search or through Open Banking.
Any company that claims to offer loans without affordability checks should be avoided, as it’s highly unlikely that they’re operating in-line with FCA guidelines.

What’s a hard search and what’s Open Banking?

A hard search provides lenders with an in-depth look at your credit history and will remain visible on your credit file for up to 12 months. Multiple hard searches within a short space of time could harm your credit score.

Open Banking is a type of affordability check used by some lenders, including a number of those who specialise in loans for people with poor credit. Rather than focusing on your credit history alone, they’re able to gain a better understanding of your recent financial situation through your online banking account.
Lenders have a read-only view of your account, you’re in control of who sees your information, and you can withdraw your consent at any time.

How long does it take to get an £800 personal loan?

Searching for an £800 loan with Cashflex is straightforward. Our online form should take no longer than 5 minutes to complete, and our soft search eligibility checker takes around 60 seconds.

If your application for an £800 loan is approved, your money could be sent the same day, although the time it takes for the funds to become available in your account will depend on your bank’s policies and procedures.

I’ve done my research and I want to apply for an £800 loan. How can I search with Cashflex?

We’ve broken the Cashflex journey down into five simple steps below.

1. Tell us how long you’d like to repay your £800 loan and fill out our online form.

2. We’ll run a soft search with no impact to your credit score and scan our panel of lenders for a suitable £800 loan.

3. If we’re able to match you with a lender, you’ll be redirected to their website. If you choose to go ahead with the £800 loan, the lender will carry out some further checks, including a hard search or Open Banking. Please note that a hard search will remain on your credit file for up to 12 months, and multiple hard searches within a short period of time could damage your credit score.

4. Once the lender’s checks have been returned and they’re happy with the outcome of the results, you’ll be sent a loan agreement.

5. Read through the agreement carefully before deciding whether to sign and return. Should you return the agreement, the lender will let you know when you can expect your money to be sent.

I’m struggling to make my loan repayments; what can I do?

We’re sorry to hear that you’re in this position, and we understand that it must feel really worrying. Firstly, try not to panic; there are things that could be done to help ease the pressure.

If you’ve taken out a loan that you’re no longer able to repay, you should contact your lender as soon as you can. They will not judge you or your situation but will instead listen with empathy and discuss any options that might be available to you.

Where can I get money advice?

Free, impartial money and debt management advice can be found through charities and organisations such as StepChange, MoneyHelper, Citizens Advice, and National Debtline.